REG - Clean Power Hydrogen ATOME Energy PLC - New purchase order from additional customer

Clean Power HydrogenAnnouncement

21/03/2022 07:15

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RNS Number : 3653F  Clean Power Hydrogen  21 March 2022

 

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is now considered to be in the public domain.

 

21 March 2022

 

Clean Power Hydrogen Plc

("CPH2", the "Company" or the "Group")

 

New purchase order from additional customer

 

CPH2, the UK-based green hydrogen technology and manufacturing company that
has developed the IP-protected Membrane-Free Electrolyser ("MFE"), is pleased
to announce that it has entered into a purchase order with ATOME Energy plc
("ATOME") for the sale of a 1MW MFE220 electrolyser unit to be delivered at
the end of this year and deployed in ATOME's Paraguay mobility project. In
addition, CPH2 and ATOME have entered into non-binding letters of intent
confirming the parties' mutual intentions to collaborate in respect of
potential future orders of electrolyser units for ATOME's international
hydrogen and  ammonia projects and to investigate and discuss a potential
joint venture for the future production of electrolysers in country to serve
the Latin American market using CPH2's technology and know-how. ATOME has
confirmed that it expects that further orders will follow in due course.

 

CPH2's MFE220 product runs with 1MW of input power and is capable of producing
450kg/day of high purity green hydrogen. The MFE220 is designed around the
principle of being simple to build, operate and maintain. The Company's MFE440
product, which is in the final stages of concept design and layout, will
operate on 2MW of input power and will be capable of producing 900kg/day of
green hydrogen. The MFE electrolyser unit is designed to be 'plug and play'
with any end user required only to provide the relevant hard standing pad,
electricity and water supply.

 

CPH2's MFE technology has many benefits including increased uptime and
efficiency, reducing risk of failure and downtime for maintenance and reduces
production costs. Other benefits include cryogenic separation of the gasses,
absence of rare materials, and the use of potable water as its feed product,
removing the requirement for any pre-treatment. The MFE also uses a simplified
stack which enables a simple and shortened production process, reducing cost,
parts and maintenance, offering a 25-year warranty on the stack. The MFE is
scalable, easily transported and assembled in the required scale and
specification for the end customer.

 

ATOME, a fellow Yorkshire headquartered company, which listed on the AIM
market of the London Stock Exchange in 2021, is an international company
focused on green hydrogen and ammonia production with advanced plans for
350-megawatt projects in Paraguay and Iceland. ATOME  has commenced
operational planning, sourcing and negotiations with EPC contractors, green
electricity suppliers, equipment providers and offtake partners, including
signed memoranda of understanding and cooperation agreements in place with
national power companies, as well as other key parties. All sites identified
by ATOME are located close to  power and water sources and export facilities
to serve significant domestic and  international demand.

 

This first unit for ATOME's Mobility Division will be based within the region
of Asuncion, the capital of Paraguay, with commencement of production planned
before the end of Q1 2023,and which is anticipated to be the first commercial
production of hydrogen for transport in Paraguay.

 

Jon Duffy, Chief Executive Officer of CPH2, commented:

 

"I am delighted to announce positive commercial momentum at CPH2 so soon after
we listed on the AIM market of the London Stock Exchange. The addition of a
new international customer to our order book is further validation of the
technology that CPH2 has developed. Our Membrane-Free Electrolyser has many
benefits, it being low-cost, scalable, flexible, safe, and reliable, and can
produce green hydrogen anywhere in the world. We very much look forward to
working with the ATOME team in delivering the first commercial production of
green hydrogen for transport in Paraguay and to an ongoing partnership in the
South America region.

 

Olivier Mussat, CEO of ATOME, commented:

 

"After a lengthy procurement process we have chosen to work with CPH2 because
the product perfectly fits our requirements and we are very impressed with its
simple yet effective technology as well as the expertise and transparency of
the management of CPH2.  We can produce green hydrogen from an electrolyser
which is easy and quick to install, safe, durable, flexible, scalable and
which releases no waste water.

 

"We likewise look forward to an ongoing partnership with CPH2 in the South
America region."

 

For more information, please contact:

 

 Clean Power Hydrogen Plc                    via Camarco
 Jon Duffy, Chief Executive Officer

 Cenkos Securities plc - NOMAD & Broker
 Neil McDonald                               +44 (0)131 220 9771
 Peter Lynch                                 +44 (0)131 220 9772
 Adam Rae                                    +44 (0)131 220 9778

 Camarco PR                                  + 44(0) 20 3 757 4980
 Billy Clegg
 Owen Roberts
 Monique Perks

 

To find out more, please visit: https://www.cph2.com (https://www.cph2.com)

 

Overview of CPH2

CPH2 is the holding company of Clean Power Hydrogen Group Limited ("Clean
Power") which has almost a decade of dedicated research and product
development experience. This experience has resulted in the creation of
simple, safe and sustainable technology which is designed to deliver a modular
solution to the hydrogen production market in a cost-effective, scalable,
reliable and long-lasting manner. The Group's strategic objective is to
deliver the lowest LCOH in the market in relation to the production of green
hydrogen. The Group's MFE technology is already commercially available and
demonstrating cost efficiencies and technological advantages. CPH2 is listed
on the AIM market and trades under the ticker LON:CPH2.

 

Overview of Atome

Atome Energy Plc is an AIM listed company targeting green hydrogen and
ammonia production with up to 350-megawatt projects
in Paraguay and Iceland, through its subsidiaries Atome Paraguay, which is
wholly owned, and Green Fuel ehf, in which Atome holds a 75 per cent interest,
respectively.

 

Atome has commenced operational planning, sourcing and negotiations with green
electricity suppliers, equipment providers and offtake partners, including
signed memoranda of understanding and cooperation agreements in place with key
parties including national power companies, to use electricity generated from
existing geothermal sources in Iceland and hydroelectric power in Paraguay.
Both sites are located close to the power and water sources and export
facilities to serve significant domestic and then international demand.

 

Atome has a green-focused Board which is supported by major shareholders
including Peter Levine, Trafigura, one of the world's leading commodity and
logistics company, and Schroders, a leading fund manager.

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